We are a generation who is a lot dependent on AI technology. The world has gone through major advancement in the past few years. Under such a scenario, mobile applications have made our lives easy. We have gained access to a number of areas on our fingertips. One such area is the real estate industry. The real estate industry has gone through a major makeover with the introduction of mobile apps. It is a useful update for the real estate industry.
Key features of Real Estate Mobile Apps
Having a real estate mobile app has brought the industry within our reach. A couple of touch on your smartphones and you can access the entire real estate market. These apps have brought in features like easy access, faster navigation, easy interaction, proper viewing of real estate properties, etc. These applications are not only limited to end users. There are mobile apps for real estate agents as well.
1. User Navigation – Using a real estate mobile app provides a better user interface and user-friendly experience. Your smartphone can access loads of properties from any corner of the world. You just need to feed your information and requirements. These real estate mobile apps are technically designed in a way that they can access the nearby properties. Anyone can access and navigate to get the best options available for them in their preferred areas.
2. Friendly Interaction – Apps designed for end users as well as real estate agent mobile apps are full of interactive features. For instance, users can enter their preferred search details for best results. They can also compare the results with other available options. Interactive features such as GPS, land valuation, land quality and type are a part of these apps. Apart from these, there are SMS, call, e-mail and live chat features.
3. Attractive App Design – Real estate mobile apps are designed to attract users. They are developed to cater to relevant information according to user preference. You can access both domestic and commercial properties through one app only. When an app is designed, the developers keep in mind that it showcases properties worth millions. For such things, the app must be up to the mark. Some significant feature of designing the app includes HD pictures of properties. It helps in gaining the trust of the users and results in real estate transactions.
Pros and Cons of Real Estate App for Agents and Realtors
It's 2019, and almost 70% of the world population has a smartphone in their pockets. The introduction of real estate apps has provided access to 87% of people. Nowadays people don't have to visit the offices of realtors and agents. They directly log in to the app and feed in their preferences. This, in turn, allows the realtors as well as agents to give accurate information. The real estate companies also get to communicate with potential buyers. The biggest benefit of realtors is the exit of middlemen. The people who used to form a chain to connect realtors with buyers are the middlemen. They claimed commission for no good reason from both the parties.
It has effectively enhanced the bond among buyers and realtors. Agents directly communicate with the potential buyers. The buyers select their dream property and then connect with the realtors or agents. The app users don't have to attend innumerable phone calls and visit various real estate projects. The real estate mobile app does a lot of work on either part. It shows genuine properties, the current rate, the surroundings of the property, the government valuation, interiors, etc. Once the buyer selects a property, the agent or realtor gets a push notification.
The entire process of communication takes place over the phone. When both parties agree to their respective terms, the paperwork procedure takes place. This makes the buying process much faster. A survey conducted on the use of real estate mobile app shows that various kinds of users has various usage record.
1. Around 30% of users use such apps for the first couple of weeks or months. They show a low engagement record. Seldom, these users are found active again.
2. 32% of users show a medium level of activeness on these apps. Either they are potential buyers or they are checking properties for future purchase. They are mostly found active for a year or more. These users are not super active users of real estate mobile apps.
3. Almost 40% of users are found to be super active. They are the potential buyers. They show interest in domestic as well as commercial properties.
Depending on the ratio of users and their activeness, the realtors carry out their business. It somehow affects the real estate industry as non-potential buyers also exist here. Users browsing through various properties might not buy one. It is acceptable but users who engage with the realtors and then back out are the non-potential buyers.
Brand Loyalty of Real Estate Apps
A study examined the information related to the mobile app and its usage. It tested the customer's loyalty towards the brand. As a result, the study revealed that users preferred the apps more than websites. This is the point where the real estate industry realized the importance of real estate apps. Mobile apps for real estate agents and users were developed. The purpose of it was user-friendliness and be within the reach of every potential buyer. The effective frequency concept states that consumers will be brand loyal if they see it more than 20 times. It has to be in 20 different places as well.
As mobile applications are always with us in our phone, we often go through them randomly. This builds brand loyalty among consumers. As a result, we keep on browsing various properties in mobile apps for real estate agents.
What are the benefits of Mobile App in the Real Estate Industry
1. Extended Market Reach – Searching properties on mobile has been trending news for quite some time. People have come in terms with the benefits of using real estate agent mobile apps. Mobile app users have increased from 48% to 62% in the past one year. According to the National Association of Realtors, the real estate market has reached new heights. More people are buying properties through real estate mobile applications. On the contrary, the web-based market witnessed a slight drop of 5% in this case.
2. Commission Sharing – The multiple listing services provided in mobile applications has allowed the real estate industry to widen options for users. Users now have more choices or options to browse from. The agents can also set up listings as well. A healthy business environment is created through this. If a user prefers any listing set by an agent, the agent gets a commission from the seller's end.
3. Direct decision making – The decision-making process went under a drastic makeover with the introduction of mobile apps in the real estate industry. Buyers and sellers now communicate directly and decisions are taken. When a potential buyer is interested in some property, he requests for further information. A notification is sent to the seller through the app. The seller contacts the buyer for further procedure. The app provides the location of the property, legal guidance, property valuation, etc for faster decision making.
4. Discoverable to Mobile users – The most effective part of real estate agent mobile app is that it is easily discoverable. The mobile apps for real estate agent use the information availed on the website to reach maximum users. User preferences are taken in to account for the development of listings.
5. Customer Feedback – The most important input towards app development is feedback. These feedbacks are a mix of brand loyalty and customer satisfaction. The NPS or Net Promoter Score is the scale to measure the feedback ratio. It shows how satisfied or dissatisfied the customers are. It reflects your performance in the real estate industry.
The usage of such applications has contributed to the growth of the real estate industry. You can verify a property through these apps. The features are developing every day with genuine customer feedback. You can depend on these applications while looking for properties. You can access any real estate application from your app store. All the applications are available in IOS and Android store for free. Stop thinking and start browsing now.